Racecourse Media Group, which currently manages the media rights of 35 racecourses across the UK, reported that a recent Racing TV survey found a “material decline” in sports betting turnover in 2022 as affordability checks pushed British punters away from the sport. A major survey conducted by the group unveiled that 15% of the research respondents either wager or know someone who wagers with a bookmaker operating on the black market.
The chief executive officer of Racecourse Media Group, Martin Stevenson, revealed the revenues decline at the time he announced the results of the aforementioned survey that was held among 3,500 members of Racing TV. The revelations came only a day after the boss of the UK Gambling Commission (UKGC), Andrew Rhodes, claimed to journalists from The Racing Post that the country’s gambling regulatory body had not ordered and authorised the introduction of affordability checks that have been expected to be unveiled as part of the UK Government’s long-awaited White Paper on gambling.
British sports betting operators, however, have shared that it was exactly the country’s regulator that forced them to adopt the controversial affordability checks as the gambling watchdog expects companies to take the financial circumstances of their customers into consideration when assessing risk.
As explained by Racecourse Media Group’s boss, the ongoing review of the country’s Gambling Act, combined with the controversial affordability checks, have negatively affected sports betting operators in the UK. According to Mr Stevenson, the recent survey was clear evidence that showed that the black market is not only real but also had a substantial presence in the country, not to mention it suggested that the affordability checks were already having a significant negative effect on the regulated sector by turning punters away from its services and exposing them to potential harm.
Many British Punters Refused to Provide Sensitive Information, Some Get Interested in Black Market Betting
In a statement, Racecourse Media Group revealed that 80% of the 3,469 survey respondents shared that they would not like to face mandatory limits imposed by British sports betting operators. Furthermore, 92% of the individuals who took part in the research explained that they would consider using the services of a different bookmaker in case they are required to provide personal information. About 22% of the respondents revealed they have already been asked to provide such information. About half of these customers refused to do so, which is a strikingly high percentage that demonstrates how customers reject intrusive checks on their leisure activity.
Racecourse Media Group has also reported a material decline in horseracing’s online betting turnover in 2022, which was found deeply concerning. According to the group, affordability checks have a negative impact resulting in a heavy financial toll faced by the sport.
Mr Stevenson said this information had been shared with the UK Gambling Commission, so Racing TV remains hopeful that the regulatory body could take account of the survey findings in its assessment of the country’s black market, which not only exists but is only building, as claimed by the report.
As previously reported by Casino Guardian, the implementation of loss limits and affordability checks has been one of the main focal areas of the ongoing Government’s review of the Gambling Act and is expected to draw the most attention when the Cabinet finally publishes its much-expected and delayed White Paper.
In the absence of clear direction from the UKGC and while the publication of the White Paper is still not happening, many bookmakers across the country have already introduced affordability checks and have started asking their customers for proof of income, such as bank statements, payslips, and other documents. Some customers, however, have described these requirements as too intrusive.
- Author
Daniel Williams
